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Tell 'em what they want to hear

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CindyR

Thread Starter
Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Hard to imagine but I reviewed a current purchase appraisal this morning with the comment "Market conditions are generally good" and something about "credit availability remains strong". This was for a purchase transaction in Surprise. If you are not familiar with the Surprise market, conditions there would most likely be described as 'absolutely awful' and the area is clearly impacted by the 'global credit meltdown'.

Can only hope next year will be better.
 

Sheikh Yerbouti

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Arizona
Come on, Cindy, where's your optimism? The market in Surprise is good if you're a bottom feeder snapping up pieces of the American Dream for 40 cents on the dollar! :new_all_coholic:
 

The Sheriff

Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Arizona
Sounds like someone didn't change their 2005 template when completing their report. That would mean more work, and for $175, that would actually require some thought process. So, did you cut the value?
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Hard to imagine but I reviewed a current purchase appraisal this morning with the comment "Market conditions are generally good" and something about "credit availability remains strong". This was for a purchase transaction in Surprise. If you are not familiar with the Surprise market, conditions there would most likely be described as 'absolutely awful' and the area is clearly impacted by the 'global credit meltdown'.

Can only hope next year will be better.


"Can only hope next year will be better."

Flash-back:

Early 1980s. Mortgage interest rates are in the high teens (yes, "high teens" for some of our younger viewers).

Residential markets are in the tank.

I'm working for an employee relocation company (the now defunct Merrill Lynch Relocation Mgmt.), in daily communication with appraisers, brokers and transferring employees.

One appraiser, working in a hard-hit (high unemployment accompanying the housing decline) town tells me that housing prices are in decline ("duh!") but when he reports such in his appraisals for residential lending, his clients disappear. He is told that other appraisers indicate "stable prices".

"Can only hope next year will be better."
 
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